Walmart India lets go of top executives across divisions

Mumbai | New Delhi: Loss-laden Walmart India is in turmoil as the world’s largest retailer is in the process of sacking about a third of its top executives based at local headquarters in Gurgaon, according to people aware of the development.

Walmart announced the layoffs of more than 100 senior executives including vice presidents across sourcing, agri-business and the fast-moving consumer goods (FMCG) divisions at a townhall on Friday. It also plans to shut the Mumbai fulfilment centre, its largest warehouse, and halt new-store expansion in India.

Profit has eluded Walmart in India with tepid sales growth more than a decade after entering the country. The real estate team responsible for new store locations has been disbanded, according to the people mentioned above.